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S. Korea sees no need to seek IMF funds - official

Sat Nov 15, 2008 6:58pm EST

WASHINGTON, Nov 15 (Reuters) - South Korea has no need to seek funds from the International Monetary Fund to help it cope with fallout from the global financial crisis, a senior finance ministry official said on Saturday.

Currencies  |  China

"I don't think so," Deputy Minister Shin Je-yoon said when asked if Seoul would need IMF funds. He said South Korea's strong reserves, foreign currency swap arrangement with the United States and plans to swap currencies with Japan and China mean: "We don't have any problems in foreign currency liquidity right now." (Reporting by Paul Eckert; Editing by Eric Walsh)

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